India needs around 4,50,000 battery swapping stations, which entails an investment of about $100 billion. Though the segment is growing rapidly, it currently has only about 1,000 stations
The average set-up cost for a swapping station is in the range of Rs 3 to 5 lakh, excluding the cost of batteries.
A homegrown battery–as-a-service (BaaS) player reached out to Nishant Shetty, an entrepreneur, in 2022 for running a swapping point as a franchisee in south west Delhi. With an initial outlay of Rs. 8.5 lakh, Shetty established Battery Safe, a swapping station which houses 50 electric vehicle (EV) batteries. The outfit now makes nearly Rs 1 lakh per month from the 150-175 electric two and three-wheelers it serves in its vicinity.
In layman’s terms, battery swapping, or BaaS, allows EV owners to replace discharged batteries with charged ones at swapping stations. It allows customers to keep their vehicles charged up and running, without having to worry about recharging drained-out batteries.
Industry observers reckon that the key growth drivers for EV battery swapping are the need for quick and efficient charging solutions, surging battery prices, range anxiety, inadequacy of charging infrastructure, and the desire to maximise vehicle utilisation.
